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Home»Business & Industry»Arkansas Made $23.5 Million In Medical Marijuana Tax Revenue So Far This Year, With State On Track For New Sales Record
Business & Industry

Arkansas Made $23.5 Million In Medical Marijuana Tax Revenue So Far This Year, With State On Track For New Sales Record

October 31, 2023Updated:December 6, 2024No Comments2 Mins Read
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Americans Want Congress To Pass Marijuana Banking Bill, Poll From American Bankers Association Poll Finds
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“With month-to-month gross sales averaging $23.4 million, we stay on observe to set a brand new gross sales report this yr.”

By Kim Jarrett, The Heart Sq.

Arkansas’s medical marijuana gross sales have introduced in $23.5 million in tax income this yr, based on data from the Arkansas Division of Finance and Administration.

Sufferers bought $211.3 million of medical marijuana in the course of the first 9 months of 2023, up from $205 million throughout the identical time interval in 2022, based on the DFA.

Greater than 44,000 kilos had been bought this yr. The state’s dispensaries bought 5,227 kilos in August and 5,538 in September, based on statistics.

“Total, sufferers have spent greater than $965 million on medical marijuana purchases for the reason that trade launched in Could 2019,” mentioned DFA spokesperson Scott Hardin. “This included $31 million in 2019, $182 million in 2020, $265 million in 2021, $276 million in 2022 and $211 million by September this yr. With month-to-month gross sales averaging $23.4 million, we stay on observe to set a brand new gross sales report this yr.”

The state has collected greater than $113 million in tax income since 2019, based on the DFA.

The variety of sufferers receiving medical marijuana playing cards additionally elevated from 89,855 to 96,056 presently. Sufferers and caregivers pay a $50 software payment to obtain a card. Caregivers pay a further $37 for a background verify, based on the Arkansas Division of Well being.

Suite 443 in Scorching Springs bought greater than 1,100 kilos in August and September, essentially the most of any dispensary in Arkansas.

This story was first published by The Center Square.

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Arkansas cannabis industry Cultivation Investments Marijuana marijuana business market growth medical million Record Regulations Revenue Sales State Tax track Year
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